Overview
Our comprehensive suite of products combined with technical expertise serve the community development marketplace. We meet the real estate financing needs of our customers and communities through traditional products while creating new products in response to changing market conditions and developer needs.
Our loan products are tailored to fit the needs of the project, providing flexible, creative and one-stop financing sources for borrowers. Our deep deal structure expertise serves as a resource for new developers to the community development space as well as a source for experience borrowers seeking a coordinated/creative project financing solution.
MHIC provides traditional acquisition, predevelopment, and construction financing as well as other unique products designed to provide a solution to the most pressing community development challenges. From exploring different loan options to assisting with building your project’s financial stack, our team is committed to helping you find the best lending solution tailored to your unique needs.
IMPACT
MHIC Market Advantage
Flexible, Creative
Deal Structure Expertise
One-Stop Financing
Equitable Development Focus
Eligible Projects
- Located in Connecticut, Massachusetts, and Rhode Island
- Residential project with 20% of units restricted to 80% AMI or below
- Commercial properties serving socially and/or economically disadvantaged communities
Eligible Borrowers
- Non-Profits
- For-Profits
Loan Terms
Loan Amount
$500,000 to $10,000,000*
Loan Types
Acquisition, Predevelopment, Construction, Permanent, Bridge
Project Types
Affordable and Mixed-Income Housing; Mixed-use properties; Commercial and Community Developments
Interest Rates
6-9%*
Commitment Fee
1-2% Fee
Term and Amortization
Up to 20 years; amortization up to 30 years; Interest-only available*
Collateral
Varies depending on loan type: 1st mortgage; sponsor/borrower all asset lien; others
*Special terms may be available based on specific funding conditions.
MHIC provided a $2 million predevelopment loan to Whittier Street, Phase 2A to help transform a former public housing development in Boston.
59 Willow Street is a new construction of 18 mixed-income apartments and 2,400 square feet of ground floor retail space with $3 million from Lending and HNEF II.
Southside Land Trust revitalized an 1850s building to provide healthy and affordable food to local communities with $2 million from the Healthy Retail and Commerce Initiative.
Meet Our Experts
Tom Beard joined MHIC in July 2023 with considerable affordable housing and community development lending experience. Prior to MIHC, Tom held lending positions with The Property & Casualty Initiative, Eastern Bank, Nonprofit Finance Fund and Mass Housing Partnership.
Brigid Ryan joined MHIC in August 2023 with broad experience in real estate finance, affordable housing and community development, and energy and climate policy. Prior to MHIC, she was Vice President with the Community Development Finance team at Silicon Valley Bank.
MEET OUR EXPERTS
Tom Beard joined MHIC in July 2023 with considerable affordable housing and community development lending experience. Prior to MIHC, Tom held lending positions with The Property & Casualty Initiative, Eastern Bank, Nonprofit Finance Fund and Mass Housing Partnership.
Brigid Ryan joined MHIC in August 2023 with broad experience in real estate finance, affordable housing and community development, and energy and climate policy. Prior to MHIC, she was Vice President with the Community Development Finance team at Silicon Valley Bank.